Despite sanctions, MTN subscriber base hits 225.4m

October 29, 2018 9:59 am

Packets of MTN Group Ltd. sim cards sit for sale at a roadside kiosk in Lagos, Nigeria, on Saturday, Oct. 31, 2015. MTN, Africa's largest wireless operator, remains in negotiations with Nigerian regulators over a $5.2 billion fine for failing to comply with an order to disconnect customers with unregistered phone cards, according to a person familiar with the matter. Photographer: George Osodi/Bloomberg

MTN, Nigeria’s biggest telecommunications operator, says it has recorded a 2.5 million increase in user base, despite challenges in its biggest market, Nigeria.

According to its latest report released on Monday, MTN said it added 2.5 million new subscribers to hit 225.4 million users in the quarter ended September, 2018.

The company added that its mobile money customers grew by 1.7 million to 25.8 million users within the period under review.

In a statement released on Monday morning in South Africa, Rob Shuter, MTN’s chief executive officer said the group’s revenue was up by 10 percent.

“MTN recorded an improved operational performance in many markets in the third quarter with group service revenue up 10 percent year-on-year, ahead of our medium-term target of upper-single-digit growth,” Shuter said.

“These results were delivered in challenging operating and currency conditions.”